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Mercator Lines Into The Coal Mining Business
Mercator Lines, which is possibly the only domestic shipping company to foray into the coal mining business, is now planning to acquire a 50 million tonne coal mine in Indonesia. Mercator expects to invest $50-75 million (approximately Rs 200-300 crore) for acquisition, a senior company official said.
He said that the company is evaluating acquisition options, [...]
Coal Mining Companies Turning to Gemcom Minex in Asia Pacific
Gemcom Software International Inc., the largest global supplier of specialised mining productivity solutions, today provided an update on growing Gemcom Minex(TM) sales momentum in Asia Pacific. Strong demand for the software is being fuelled by booming commodity demand and mining companies seeking improved tools for geology and mine planning.
Indonesian Mine Exploration Regulation Analysist : decentralization hits investment in mining
An ongoing dispute between the central and local governments over the disbursement of authority to manage licenses for mining operations is unlikely to be resolved any time soon.
The country’s mining sector has been plagued by overlapping mining regulations and weak coordination between central and local authorities.
Indonesian Mining Association (IMA) executive director Priyo Pribadi Soemarno told [...]
Gold Mine Exploration Company, Oxiana To Sell Stake In Gold Project
Indonesian state-owned mining company PT Antam will initially acquire a 10 per cent stake in Martabe for $US66.5 million ($69.16 million), and will have an option to acquire a further 15 per cent.
The $US310 million Martabe project is expected to produce about 200,000 ounces of gold mine and two million ounces of silver over a [...]
Asian stocks close mostly up as China rebounds
Asian stocks closed mostly up Wednesday with Chinese stocks surging amid speculation Beijing will try to boost share prices following a plunge since last year.
The Chinese bourse closed 5.24 percent higher amid market talk that the authorities would step in to shore up share prices with the key Shanghai index languishing below the psychologically significant [...]
Asian stocks close mixed but Japan rallies on strong growth
Asian stocks closed mixed Wednesday as Japan rallied on surprisingly strong economic growth data, but worries about inflation and a share price slump at the start of the week lingered.
Japan’s stock market rose more than one percent after official data showed the country’s economy had powered ahead at a 4.0 percent annualized pace in the [...]
Coal Mining and Trading, Sultan Mining to proceed with P480-M IPO
Sultan Mining & Energy Development Corp. (SMEDC), a local coal mining and trading company, is optimistic it could push through with its P480-million initial public offering (IPO) after it has secured a registration statement from the Securities and Exchange Commission.
SMEDC vice chairman Rufino Bomasang said the company is bullish on the public offering amid continuing [...]
Asian stocks close mixed as oil falls, but Malaysia slides
Asian stocks close mixed Thursday as lower oil prices boosted sentiment but worries about inflation lingered, with the Malaysian bourse diving 2.4 percent after a big fuel price hike.
Malaysian stocks sank following the government’s decision Wednesday to hike subsidized fuel prices by 41 percent, as high crude oil prices strain budgets across Asia.
However, the Indian [...]
Andaman Group Expects Coal Mining To Contribute 30 Pct Of Net Profit
Andaman Group, which involved in property development, forestry, plantation and mining, expects its recently-acquired coal-mining concessions in Indonesia to contribute 30 percent of the group’s net profit this year, based on rising demand from India, China, Japan and South Korea.
President Datuk Dr Patrick Teoh Seng Foo said the two mining concessions were expected to start [...]
